GnuCash User Manual
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# GnuCash and the EURO

# Introduction

On January 1, 1999, eleven European Union countries formed an economic and monetary union (EMU) and started using a single currency - the euro. These countries locked the exchange rates of their national currencies to the euro and are sharing the new currency. However, euro notes and coins will not be available until January 1, 2001. Until then, the old national currency notes and coins (French francs, Deutschmarks, etc.) will continue to circulate. But legally, they are part of the euro. Their value in euro is completely fixed. All kinds of cashless monetary transactions like cheques or wire transfers are possible in euro. You can find more information about the euro at: http://europa.eu.int/euro .

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Using Double-Entry in GnuCash |  | EMU Member Countries and Exchange Rates